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According to a study by eminent academics Daniel Kahneman and Matthew Killingsworth from Princeton University and the University of Pennsylvania, happiness tends to rise as money and wages rise.
The research, published in the Proceedings of the National Academy of Sciences, says happiness increases as income levels do.
Kahneman and Killingsworth spoke with 33,000 Americans for their study. In this category, the lowest starting wage was $10,000, and the highest was nearly $500,000.
Happiness was found to increase for the majority of people when money increased. This shows that having more money can generally make individuals happier.